Here's the primary takeaway with this and other key moves: You're witnessing the biggest boys in the media (A) build empires, (B) jockey for control against one another and (C) work in concert, even if unknowingly, to ensure new media, particularly Netflix (NFLX) , stays in its proper place.

In addition to the Comcast/GE deal, we also have reports that Time Warner will sell most of its publishing business, but possibly keep brands such as Sports Illustrated . At the same time, News Corp prepares to spin off its publishing division this summer. Meanwhile, all three companies continue to secure contracts to crucial appointment viewing -- sports programming -- in the U.S. and abroad.

Pay attention. This is big. It's one of the most exciting stories that impacts the stock market going forward.

If big media is smart -- and guys like Rupert Murdoch and Jeff Bewkes (love 'em or hate 'em) are sharp as tacks -- it will operate, in some respects, as partners. There will always be battlegrounds like prime time television, news ratings, and sports deals, but, as the dust settles, these companies need to find a way to pioneer digital platforms away from Netflix.

It doesn't look like that will ever get done via Hulu so, if I'm at NWSA, TWX, CMCSA, DIS and CBS, I come together and devise some type of streaming plan going forward. Call it collusion if you will, but that's just a minor detail. These guys are not stupid. At day's end, they have common goals:

Preserve and protect the cash cow that is the cable/satellite model;

Become truly multi-platform because it not only furthers their traction with consumers, but opens up billions in new (or shifted) advertising dollars; and

Build long-term, impenetrable digital offerings that (A) bring in an end to the presently-disjointed TV Everywhere scheme and (B) halt the dog and pony show of short-term revenue grabs by doing deals with Netflix.